Liability Insurance South Carolina

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Liability Insurance South Carolina Policy Information

Liability Insurance SC

Liability Insurance South Carolina. In some situations, a person or business may unwillingly cause a person or party to be injured or damaged. If the affected person claims the damage, the individual or organization may undergo financial loss. For example, a mail carrier may slip on your icy driveway and get injured. He can sue you for pain, suffering, medical expenses and lost income. A customer gets sick from using one of your products and takes your business to court. You accidentally ideure someone while driving and wind up in court, paying substantial legal bills.

No one is immune from such occurrences. Without adequate liability insurance South Carolina coverage, they can cause devastating effects to your business or career.

Liability insurance South Carolina protects your company from lawsuits with rates as low as $47/mo. Get a fast quote and your certificate of insurance now.

With court awards and legal fees getting more and more expensive, it is vital for everyone to get liability coverage from a trusted liability insurance South Carolina provider. The insurer's duty is to defend you and cover legitimate claims posed against you up to a certain limit. All costs including your defense costs and the cost of settling claims are covered, and this provides you with invaluable peace of mind.

Liability insurance South Carolina protects you against loss if your actions, negligence, or a condition of your property causes injury or death to a person or property belonging to another person is damaged or destroyed. Without liability insurance, you would be on your own if you are found legally responsible for any number of reasons.

Below are the types of liability insurance South Carolina businesses and professionals need to have:

Workers Compensation Insurance

According to SC law, employers in South Carolina are responsible for the safety of their employees whenever they are at work. An employee may get injured while they work, or a former employee becomes ill due to the work they did while on your employment. Such employees may sue you or your organization and claim compensation if they believe that you are responsible. Employers' liability insurance South Carolina ensures that you are protected from financial loss due to such claims. However, if your employee gets injured due to a motor accident, you may be covered by your motor insurance against any compensation claims. Employee liability insurance is compulsory in SC for any employees of a business that are not owners, and you can be fined for not having a current insurance policy that complies with SC state laws.

Public Liability Insurance

Public liability insurance covers an individual, business, a contractor or even a community building from any costs of legal action if they are found responsible for injury or death of a person, or loss or damage of property. It covers you from claims made by members of the public or other businesses against you, but your employees can't sue you. Unlike employers' liability, public liability insurance South Carolina is not compulsory in most cases.

Nevertheless, businesses in all industries are recommended to have a public liability cover if there is a likelihood of being sued for negligence. In some cases, it is mandatory. For example, licensing authorities may require a business to have it to hold public events. This type of cover does not help you if you are involved in known criminal actions or hazardous activities.

The popularity of public liability insurance South Carolina is increasing, and it may be included in insurance policies. If you find out that you are covered for public liability in other insurance products, ensure that the amount you are covered is enough.

Product Liability Insurance

According to government statistics, defective and dangerous products cause thousands of ideuries annually in the United States. Responsibility for such injury may be distributed among all people who are involved in the product chain. Parties exposed to product liability claims include the manufacturer, importer or distributor, the party who assembles and installs the products, the wholesaler and the retail store from which the customer got the product.

If you manufacture, import, sell or distribute products in SC, you should have product liability cover from your liability insurance South Carolina company of choice. It covers you for any damage or injury that may be caused by the use of your products. People who believe that they have been harmed by your product can sue you without having to prove that you were negligent or had the intention to cause harm.

Product liability insurance may also cover for claims made by a customer if they are harmed by the lack of adequate instruction on the use of a product. These claims might even be due to failure to warn on your product label. Therefore, this type of insurance is vital to any business that manufactures or distributes products.

Professional Indemnity

Regardless of how many years of experience you or your firm may have, there is a possibility that one day you or one person in your team will make a mistake. It might be professional negligence, loss of data, unintentional breach of confidentiality or defamation.

Professional indemnities (also know as errors and omissions (E&O) and professional liability) are designed to protect professionals such as doctors, lawyers, chartered accountants, architects, etc... from legal liabilities to pay for any damage caused by their negligence as they perform their professional duties. Someone may sue you if he/she suffers a loss after applying your professional advice or receiving your service. Different types of professional indemnities are designed for different professions. For instance, the medical profession has medical insurance indemnity as a requirement for professional registration or licensing.

With respect to industry bodies regulatory requirements, professional indemnity liability insurance South Carolina is mandatory especially for professionals such as accountancy, surveying, engineering to name but a few. Also, professionals working on contract terms such as IT consultants, business and management consultants will certainly need PI insurance to get a contract. However, large or small a professional business is, without PI insurance the business is left vulnerable to financial and reputation compromise.

Why You Need SC Liability Insurance

Even if you are not legally obliged to have liability insurance South Carolina, without it you are at risk of paying thousands if not millions of dollars in compensation and legal fees whenever suit is brought against you in court. This is in addition to the opportunity cost of lost time and resources when you are defending the allegations against you. There are many listed liability insurance South Carolina companies that can provide you with adequate liability cover for your business and profession. You need it sooner than later so that you can edeoy peace of mind as you focus on providing your customers with the best products and services and growing your business.

SC General Liability Insurance By Industry

Small Business

Protect your company and employees with SC commercial insurance. Read informative articles on South Carolina small business insurance coverages - and how they can help shield your company from legal liabilities.

Construction Contractors

Learn about South Carolina construction contractors insurance, including how much the premium costs and what is covered - and how commercial insurance can help protect your SC construction business from lawsuits.

Contractors and Home Improvement

Learn about South Carolina contractor's insurance, including what it covers, how much it costs - and how commercial insurance can help protect your SC business from lawsuits.

Commercial Property

Read up on South Carolina commercial property insurance, including how business property insurance protects your company's building's and/or their contents from damage, destruction, theft and vandalism.

Professional Services

Get informed about South Carolina professional services insurance, including Professional liability, aka errors and omissions (E&O insurance), that protects your business against claims that a professional service you provided caused your client financial loss.

Advertising, Marketing and Media

Learn about South Carolina media liability insurance - a specialized form of professional liability insurance that provides protection for legal claims brought by third parties.

Real Estate

Learn about South Carolina real estate insurance coverages including liability and commercial property policies for realtors, mortgage companies and more.

Retail

Read valuable South Carolina retail insurance policy information. In a retail business, you need to have the right type of commercial insurance coverage so that your store, employees, and inventory are protected.

Auto Service and Repair

Read about South Carolina auto service & repair insurance, which provides protection for damages done to customers vehicle's and other property as well as injuries resulting from the work done.

Health and Beauty

Learn about South Carolina health and beauty insurance coverages that help protect tattoo artists, salons, spas, estheticians, cosmetologists, barbers, hairdressers, nail salons and more from legal liability.

Information Technology and Internet

Learn about South Carolina IT technology insurance policies that help protect IT businesses, consultants & subcontractors from the unique risks that small tech businesses face when they work.

Food and Drink

Learn about South Carolina restaurants, bars, liquor stores commercial insurance coverages. See how food service insurance help protect against accidents, oversights and lawsuits resulting from business operations.

Medical and Dental

Discover South Carolina business insurance for medical and dental professionals. Medical malpractice insurance is a type of professional liability that protects health care professionals from liability causing in bodily injury, medical expenses and property damage.

Manufacturing and Wholesale

Read informative articles on South Carolina manufacturing and wholesale insurance. Manufacturing and wholesale companies face many risks due to the nature of their business operations.

Education, Colleges, Universities & Schools

Learn about South Carolina commercial insurance for educators that helps protecting your professional reputation and other legal liabilities arising from your educational services.

Sports and Fitness

Learn about South Carolina sports & fitness insurance policies and what they cover so that your customers, employees, and equipment are protected.

Children and Pets

Discover what South Carolina commercial insurance policies cover for children and pet related businesses.

Miscellaneous

Find informative articles on miscellaneous SC businesses including the types of commercial insurance they need, costs and other considerations.

Non-Profit

Find useful articles on business insurance for South Carolina non-profit 501(c)(3) organizations, charities and associations.

Arts and Recreation

Read up on South Carolina arts and recreation commercial insurance.

Agribusiness

Learn about SC agribusiness insurance - a type of commercial insurance protects farmers against loss of, or damage to crops or livestock.

Commercial Auto

Learn about South Carolina commercial auto insurance which includes liability and physical damage protection for vehicles that are used for business purposes.

South Carolina General Liability Insurance Information

SC Commercial Insurance Articles

Read informative articles on South Carolina commercial insurance including costs and coverages.



South Carolina Economic Data, Regulations And Limits On Commercial Insurance

Made In South Carolina

If you are an entrepreneur and you are either thinking about starting a new business or you are considering expanding an existing company to a new location, you know how important it is to choose the right area for your operation. In order to achieve as much success as possible, the location must offer favorable conditions and a market that will benefit from your products and services, and that those products and services will appeal to.

There are several aspects that indicate whether or not a specific state offers favorable conditions for business operations. Two of the most crucial aspects include the unemployment rate of the state, as well as the industries that are seeing the most activity in the state.

Additionally, it's also vital for prospective business owners to be aware of the different types of commercial insurance policies they will need to carry within a particular state to ensure that they are properly covered and complaint with the law.

If you're thinking about conducting business operations in South Carolina, read on for an overview of the economic trends and commercial insurance requirements in the Palmetto State.

Economic Trends For Business Owners In South Carolina

Unemployment rate is a telltale indicator of the economy of a state. The lower the rate, the healthier the economy is, and in turn, the more opportunities there are for businesses. As per the Bureau of Labor Statistics, the unemployment rate in the state of South Carolina was 2.3% in December, 2019.

Compared to the national average of 3.5% during the same time period, the economy of SC is booming. The health of the economy is further illustrated by the steady decline in the state's unemployment rate, which was 3.4% in July, 2019 and fell steadily until reaching the above-mentioned 2.3% in the last month of the year.

As in most states, large metropolitan areas are the best places to start a business in South Carolina; however, there are also several smaller cities and suburban locals that are also seeing an uptick in business ventures. Some of the destinations that companies might consider include:

  • Beaufort
  • Charleston
  • Columbia
  • Fort Mill
  • Georgetown
  • Greenville
  • Greer
  • Hilton Head Island
  • Mauldin
  • Myrtle Beach

The industries that are seeing the most activity in SC include:

  • Aerospace and aviation
  • Alternative energy
  • Automotive manufacturing
  • Biotechnology and life sciences
  • Hospitality and tourism
  • Logistics, transportation, and distribution
  • Recycling
Commercial Insurance Requirements In South Carolina

The South Carolina Department of Insurance regulates insurance in SC. South Carolina mandates very few forms of insurance coverage by law. They enforce worker's compensation.

South Carolina requires you to have worker's compensation insurance if you hire four or more employees on a regular basis. This includes part-time employees, family members, minors, and immigrant employees. It is not required for independent contractors or domestic employees, though you should check to make sure any contractors you have are true contractors, and not employees.

South Carolina also requires all business-owned vehicles to be covered by commercial auto insurance. Other types of business insurance that business owners should carry depend on the specific industry.

Request a free Liability Insurance South Carolina quote in Abbeville, Aiken, Anderson, Batesburg-Leesville, Beaufort, Belvedere, Bennettsville, Berea, Bluffton, Boiling Springs, Burton, Camden, Cayce, Centerville, Central, Charleston, Cheraw, Chester, Clemson, Clinton, Clover, Columbia, Conway, Darlington, Dentsville, Dillon, Easley, Edgefield, Five Forks, Florence, Forest Acres, Forestbrook, Fort Mill, Fountain Inn, Gaffney, Gantt, Garden City, Georgetown, Goose Creek, Greenville, Greenwood, Greer, Hanahan, Hardeeville, Hartsville, Hilton Head Island, Hollywood, Homeland Park, Irmo, James Island, Ladson, Lake City, Lake Murray of Richland, Lake Wylie, Lancaster, Laurel Bay, Laurens, Lexington, Little River, Lugoff, Marion, Mauldin, Moncks Corner, Mount Pleasant, Murrells Inlet, Myrtle Beach, Newberry, North Augusta, North Charleston, North Myrtle Beach, Oak Grove, Orangeburg, Parker, Piedmont, Port Royal, Powdersville, Red Bank, Red Hill, Rock Hill, Sangaree, Sans Souci, Seneca, Seven Oaks, Simpsonville, Socastee, Spartanburg, St. Andrews, Summerville, Sumter, Taylors, Tega Cay, Travelers Rest, Union, Valley Falls, Wade Hampton, Walterboro, Welcome, West Columbia, Woodfield, York and all other cities near me in SC - The Palmetto State.

Also find South Carolina insurance agents & brokers and learn about South Carolina small business insurance requirements for general liability, business property, commercial auto & workers compensation including SC business insurance costs. Call us (803) 500-9096.

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